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the underworld, to the world of privilege. >> everyone in michael jackson's life was out to use him. (vo) no one brings you more documentaries that are real, gripping, current. [ music ] >> this is "the full court press: the bill press show," live on your radio and on current tv. >> bill: here we go now 25 minutes after the hour nobody knows the foreign policy issues better, more in depth than joe ciriycone from the plow shares fund. you can find out all of the rest of the stuff plow shares is working on at their website, english spelling. we were talking about the chuck hagel and what he might do with the defense budget. i mean there are cuts coming for sure. can defense department survive that? >> it continual you heard leon pan ittetetta say it would be traumatic for the defense department. sequestration is almost certainly going to happen. but there is an upside that it forces choices. there are some turkeys there that are now probably going to get killed. one of them in particular is the plutoneian fuel plant, lindsey graham's home state that
be considering gina mccarthy to be the new ep achieve to replace lisa jackson. she is a senior at the agency. could there be a romney in the center for massachusetts. the boston herald reports massachusetts republicans are trying to persuade mitt romney's wife in the seat vacated by john kerry and scott brown said he will not be running. we will talk about that story in a moment. as i mentioned, joe biden in germany at a security conference. it is the first foreign policy trip since he and president obama were reelected in november and syria was the main item on his agenda. >> we can all agree not on how or what we do, but the desperate plight of the syrian people and the responsibility of the community to address the play. >> kristin welker has more on this. what else did vice president biden say? >> good afternoon. we can tell you that vice president biden met with the russian foreign minster and the special envoy who is charged with overseeing the response to syria. this is certainly one of the key topics of conversation at the security conference in munich. the big question is what actua
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argued about it. there was a second bank of the united states that was created. andrew jackson basically ended its charter. there's a long history of mistrust in parts of the united states about the central bank and what it does. back in the jefferson and hamilton days, a lot of the farm state bankers did not trust the first bank of the united states. there is a federal reserve board in washington made up of seven governors and chairman who is ben bernanke. then there are 12 regional fed banks. they're all part of this federal reserve system. the regional fed bank, every chartered bank of the united states has to pay in capital to the federal reserve banks and in return they get a dividend. but these are not banks the way we think of commercial banks. the federal reserve bank of new york is not like citigroup out there trying to earn big profits to return to shareholders. their job is to manage the money supply. it is also to be a lender of last resort in a crisis, which is what the federal reserve did in 2007. when there is a run on a bank, when depositors flee the banking system becaus
Search Results 0 to 4 of about 5 (some duplicates have been removed)